Wool market closes on a high note - Cape Wools

14 Dec '06

2 min read

CAPE WOOLS SA releases the wool market report. It stated that the final sale of the year brought Christmas cheer to wool producers when Cape Wools' overall indicator gained 2,1% despite a stronger currency to close at R34,66/kg (clean).

This is up 56% on the corresponding sale last season. The rand this week firmed to its highest level in nearly four months, breaking through the key R7,00 level at R6,96 to the US dollar. This is up 13c (1,9%) compared with last week. It was trading at R9,23 against the euro (up 2,1%).

Prices of all Merino long wools were dearer with 19, 21 en 23 microns posting the biggest gains.

The offering comprised 10 678 bales of which 98% was sold. Major buyers were Modiano (3 776 bales), SA Wool Exporters (2 297 bales), Segard Masurel (1 185 bales), Stucken (1 055 bales) and Chargeurs Wools (754 bales).

Average price movements for AWEX-type fleeces MF3, MF4 and MF5 of 70 and 80 mm were as follows: 19 microns were 2,7% dearer at R55,88/kg; 20 microns were up a marginal 0,3% at R49,70/kg; 21 microns gained 1,8% at R47,16/kg; 22 microns were up 0,5% at R45,03/kg; 23 microns were 1,4% dearer at R44,37/kg, but there were no quotes for 24 and 25 microns.

Sales will resume on 10 January when approximately 7 500 bales will be auctioned.

Cape Wools SA

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